Kakao Entertainment joins hands with Billboard to spread K-pop globally.
Kakao Entertainment (Co-CEOs Kwon Ki-soo and Jang Yoon-joong) announced on the 17th (Wednesday) that it had signed a strategic partnership with the U.S. Billboard to expand the global influence of K-pop. On this day, Kakao Entertainment co-CEO Jang Yoon-jung met with Billboard President Mike Van and Billboard Korea publisher Kim Yu-na at Kakao Entertainment Jonggak Office and discussed in depth ways to cooperate between the two companies as global partners. This is the first time that Billboard's U.S. headquarters has directly signed an official partnership related to K-pop.
Through this partnership, Kakao Entertainment, Billboard, and Billboard Korea will establish a multi-faceted cooperation system and accelerate the global spread of K-pop and expand its influence. The K-pop industry, which has built a strong fandom and solidified its position around the world, is expected to serve as an opportunity to open a new chapter in the global market.
Kakao Entertainment, Billboard, and Billboard Korea plan to introduce K-pop music as well as various contents related to it to fans around the world, and jointly promote all-round marketing and promotion for the global activities of K-pop artists. In addition, by combining Kakao Entertainment's music IP planning, production, and distribution capabilities and Billboard's abundant data and global media influence, a new business model linked to K-pop will be introduced. Through this, Billboard is expected to successfully establish Billboard Korea, which will be launched in June, and expand Billboard's music portfolio to secure a stronger influence in the global music industry.
Based on this partnership, Kakao Entertainment will speed up its entry into the global market. We have established a systematic management system centered on our North American subsidiary and supported the global activities of artists, while also focusing on strengthening our global distribution competitiveness by solidifying our network with various partners. Through cooperation with Billboard, which has unrivaled influence in the global music industry, we plan to further strengthen the global competitiveness of the music business by expanding the influence of Kakao Entertainment's music and artist IP in the global market.
In particular, Kakao Entertainment plans to expand and support global activity opportunities not only for its affiliated label artists, but also for various domestic artists with outstanding talent. The purpose is to introduce artists and music of various genres, including unique newcomers, to music fans around the world, and to expand the K-pop fandom more broadly and solidly.
Billboard President Mike Ban and Billboard Korea Publisher Yuna Kim said, “Kakao Entertainment is a key player with solid planning, production, and distribution capabilities in cooperation with various partners in the K-pop industry. Through the partnership between the two companies, Kakao Entertainment is providing K-pop to global music fans. “We expect to be able to promote the diverse charms of ,” he said.
Jang Yoon-jung, co-CEO of Kakao Entertainment, said, “This partnership with Billboard and Billboard Korea, which have a strong influence on the global music industry, will be an opportunity for K-pop and K Entertainment, which are expanding their global influence, to take a leap forward.” “Entertainment will prove K-pop’s unrivaled competitiveness to the global market and continue to make various efforts to expand the base of the K-pop industry and achieve balanced global growth.”
(SBS Entertainment News Reporter Kim Ji-hye)
